#美国5月CPI超预期回落
Let me briefly summarize the situation of the Federal Reserve last night. First of all, the CPI data released at 8:30 was lower than expected, and the data was very good. Then everyone felt that such data was conducive to the expectation of interest rate cuts, so the market also went up all the way. At 2 o'clock in the morning, the Federal Reserve announced that it would maintain the current interest rate unchanged. In fact, this was also in line with expectations. It was mainly the dot plot. From the dot plot, most of the 19 Federal Reserve officials still took one or two interest rate cuts this year as the main direction.
The next focus was Powell's speech, but in my opinion, his entire speech was a waste of time. In fact. Because he mainly emphasized the current inflation, although it has improved, it is still too high. For the existing data, like CPI, although the data is good, it is not particularly important, so the overall speech is still hawkish.
Then after Mr. Bao finished speaking, major investment banks also lowered their expectations for this year's interest rate cuts based on Mr. Bao's speech. As the market began to fall again. So after all this, I think whether it is this year or next year, I have great expectations for the significant benefits of the interest rate cut.
